Common use of Continuation and Reinstatement Clause in Contracts

Continuation and Reinstatement. Borrower further agrees that its pledge hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Obligation is rescinded or must otherwise be restored by Lender upon the bankruptcy or reorganization of Borrower or otherwise.

Continuation and Reinstatement. Each Borrower further agrees that its pledge hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Subject Obligation is rescinded or must otherwise be restored by Lender Hallmark or the Hallmark Lenders upon the bankruptcy or reorganization of any Borrower or otherwise.